President Droupadi Murmu Unveils Commemorative Stamp Marking RBI's 90th Anniversary.
National
• On April 1, 2025, President of India, Droupadi Murmu, unveiled a special postage stamp of Rs.5 denomination to commemorate the 90th anniversary of the Reserve Bank of India (RBI) at the National Centre for the Performing Arts (NCPA) in Mumbai, Maharashtra.
- The 90th anniversary of RBI marks a significant milestone, reinforcing its commitment to economic stability, financial growth, and strengthening trust in India's financial system.
- The event was attended by Union Minister Jyotiraditya M. Scindia (Ministry of Communications & MDONER), Maharashtra Chief Minister Devendra Fadnavis, and other distinguished dignitaries.
- The stamp symbolizes RBI's evolution, featuring its original headquarters in Kolkata (West Bengal) and current headquarters in Mumbai. It also includes the 90th-anniversary emblem with the motto "Stability. Trust. Growth," reflecting RBI's foundational principles.
Main Point :- (i) Established under the RBI Act, 1934, the Reserve Bank of India (RBI) initially operated from Kolkata before shifting its headquarters to Mumbai in 1937. It plays a crucial role in monetary policy implementation, currency management, government debt oversight, and financial regulation.
(ii) The RBI actively promotes financial inclusion, consumer protection, and digital literacy through various initiatives, including the Post Office Savings Bank (POSB). It ensures a stable financial ecosystem while fostering economic growth.
(iii) Sir Osborne Smith was the first Governor of the RBI, followed by Sir C.D. Deshmukh, the first Indian to hold the position. The RBI issues currency notes in denominations of Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, and Rs 500, while coins in Rs 1, Rs 2, Rs 5, and Rs 10 denominations are overseen by the Ministry of Finance (MoF).
About RBI
Governor : Sanjay Malhotra
Headquarter : Mumbai
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